Integra Bank Corp. has sold four branches in Kentucky and Ohio and nearly $62 million in loans to Citizens Deposit Bank and Trust as part of a plan to boost capital and reduce problem loans.
The Evansville, Ind., parent company of Integra Bank NA announced Friday that it had sold branches in Maysville and Mount Olivet, Ky., and Ripley and Aberdeen, Ohio This was its fourth branch deal of 2010.
The $2.9 billion-asset Integra said the sale increased its Tier 1 and total risk-based capital ratios by about 50 basis points.
Citizens, a subsidiary of Premier Financial Corp. in Vanceburg, Ky., assumed about $73.4 million in deposits. It also picked up $17.8 million in branch-related loans, as well as $34 million in commercial real estate loans.